Craftsman Automation Limited (NSEI:CRAFTSMAN) agreed to acquire 76% stake in Dr Axion India Private Limited for INR 3.75 billion on December 29, 2022. Upon completion of the transaction, DR Axion India will be a Subsidiary of Craftsman Automation. Dr Axion India has generated the revenues of INR 7159.42 million for the year ended March 31, 2022. The acquisition is expected to be completed before March 31, 2023. Ernst & Young Private Limited, Investment Banking Arm acted as financial adviser for Dr Axion India Private Limited.

Craftsman Automation Limited (NSEI:CRAFTSMAN) completed the acquisition of 76% stake in Dr Axion India Private Limited on February 1, 2023.